Dec 24, 2012 4:00am EST
slowly but surely has been fixing mgm's past mistakes including the massive citi center project in vegas that drove the company to the brink of chapter 11. this is a turn that's been years in making but now businesses are starting to come back. you haven't missed anything so this is the moment. let me explain. not long ago it was a real sick customer. took on a ton the debt when las vegas was fabulous place to do business. when the vegas market got annihilate during the great recession, mgm was crushed. think of it like this. i'm looking for analogies all the time. mgm was on its deathbed. company was on life support. gaming revenues tumbled from 2007 through 2009. the patient, it was slipping. then mgm got a pacemaker in the form of a new ceo when a one-time wall street gaming analyst took over in december of 2008 right at the height of the recession. vegas business stabilized in 2010 and 2011. the president said he didn't like trips there or something. the doctors are making improvements with mgm with rebound in chinese economy, mgm's business is getting a much needed hip replacement.